The lease is for a five-year term, a typical timeframe for government leases. Financial terms of the agreement, however, have not been disclosed. According Delta Associates' Year-End 2004 Washington-Baltimore Office Report, the average effective rate on leases of office space here was $27.55 in 2004.

Shady Grove V is just one of several buildings that constitute the 60-acre Shady Grove Executive Center, a premiere business park located in the I-270 Corridor. The four-story structure is also known by its street address, 9200 Corporate Blvd.

"In this instance, we looked at a range of options to help get the best possible value, which proved to be a new lease with the current landlord," says Equis senior vice president Craig Estey, who worked on the deal along with colleague vice president Mike Wiley. "This option saves the costs and disruption of moving, preparing a new site and making new security arrangements."

At the time of the transaction, an entity operating under the name of Shady Grove Associates LP was the owner of Shady Grove V and relied on Spaulding & Slye Colliers for representation in the transaction. The property has since changed hands and now belongs to Wells Real Estate Investment Trust, which recently acquired the property for a rumored $22.3 million.